Fannie Mae used a fair number of trade-offs in while coming up with its revised outlook for the real gross domestic product (GDP) this year. The company's economists, headed by Chief Economist Doug Duncan, upgraded its full year forecast from 2.1 percent to 2.2 percent while at the same time painting a darker picture for the second half of the year. Second quarter growth beat expectations, according to Fannie's August Economic Developments report, largely because of strong consumer spending which is expected to have continued into this quarter. Nonresidential fixed investment and government spending are expected to weaken however, so the third quarter GDP has been downgraded from 1.9 percent to 1.8 percent. The economists continue to believe growth will slow next year, but that forecast has

August 20, 2019 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.29% +0.01%   6.11% 7.26% 15 Yr. Fixed 5.69% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Aug 20, 2019 Mortgage Rates Hold Relatively Steady Despite Bond Market Weakness Mon, Aug 19, 2019 4:52PM Mortgage rates mostly held steady today , despite a move higher in broader interest rate indicators like the 10yr Treasury yield. Treasuries and mortgage rates typically track each other quite well, but that relationship has broken down in recent weeks due to the rapid drop in rates and the increase in volatility. The mortgage sector has a much tougher time adjusting to new realities compared to Treasuries. In other words, mortgage rates haven't been able to move lower nearly as quickly (though they have still managed to hit their lowest levels since 2016). The upside to that problem is that w... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.29% +0.01 0.00 15 Yr. Fixed 5.69% +0.04 0.00 30 Yr. FHA 5.98% +0.04 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.68% +0.06 0.00 30 Yr. VA 6.00% +0.05 0.00 Updates Daily - Last Update: 9/9 Freddie Mac Rate Change Points 30 Yr. Fixed 6.50% -0.06 0.00 15 Yr. Fixed 5.60% -0.09 0.00 Updates Weekly - Last Update: 9/4 Mortgage Bankers Assoc. 30 Yr. Fixed 6.64% -0.05 0.59 15 Yr. Fixed 5.84% -0.19 0.84 30 Yr. Jumbo 6.58% -0.09 0.39 Updates Weekly - Last Update: 9/3 UMBS 30YR 5.5 101.06 -0.22   97.47 101.61 UMBS 30YR 6.0 102.36 -0.18   99.66 102.50 10 YR Treasury 4.082 +0.043   3.621 4.780 MBS Live Day Ahead: Apparently, It's Not Over Yet Tue, Aug 20, 2019 8:59AM In the day just passed, we considered a rather melodramatic question ("is it over?"), which refers to the general strength in the bond market seen in August and our ability to maintain (or improve upon) the lowest rates in 3 years.  Early weakness came from the European bond market following more reports that Germany was considering fiscal (not monetary... (read more) MBS Price Change UMBS 5.0 99.45 -0.32 UMBS 5.5 101.06 -0.23 UMBS 6.0 102.38 -0.16 GNMA 5.0 99.73 -0.34 GNMA 5.5 101.04 -0.15 GNMA 6.0 102.01 -0.18 Pricing as of: 9/9 5:51PM EST US Treasury Yield Change 2 YR Treasury 3.558 +0.071 5 YR Treasury 3.617 +0.055 7 YR Treasury 3.816 +0.048 10 YR Treasury 4.087 +0.048 30 YR Treasury 4.732 +0.042 Pricing as of: 9/9 5:51PM EST Other News Fannie Mae Predicts Two Additional 2019 Rate Cuts, Here's Why Mon, Aug 19, 2019 12:09PM Fannie Mae used a fair number of trade-offs in while coming up with its revised outlook for the real gross domestic product (GDP) this year. The company's economists, headed by Chief Economist Doug Duncan, upgraded its full year forecast from 2.1 percent to 2.2 percent while at the same time painting a darker picture for the second half of the year. Second q... (read more) New Fair Housing Rule Eases Defense of Disparate Impact Claims Tue, Aug 20, 2019 2:30PM Monday's edition of the Federal Register featured a proposed rule that, depending on your viewpoint, would amend the Department of Housing and Urban Development's (HUD's) interpretation of the Fair Housing Act's disparate impact standard, (HUD) or "make a major change to a well-settled standard on how the agency and the courts review claims of discrimination... (read more) Builder Confidence is Good, But it Could be Better Fri, Aug 16, 2019 7:17PM The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) moved one point higher this month. However, at 66, NAHB's measure of builder confidence in the new home market stayed within the 64 to 66 range where it has been now for four months. "While 30-year mortgage rates have dropped from 4.1 percent down to 3.6 percent during th... (read more) DPA Products; Webinars This Week; Credit News; Better.com is Worth What? Tue, Aug 20, 2019 8:45AM Why is a 43% DTI, a line many view as “drawn in the sand,” so critical to the ability of a borrower to repay a loan? What about reserves or utility bill payment? If the borrower is already paying $2,000 a month in rent and their mortgage payment would be $1,800, shouldn’t that count for something? More thinking about credit, and its reporti... 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